RELIANCE

Valuation P/E: 22.6 (reasonable for a conglomerate) P/B: 2.1 Dividend yield: 0.4% Interpretation Valuation is not very expensive compared to peers. Growth classified as moderate but stable. Key levels (based on pivot and technical studies): Support: ₹1,375 → ₹1,333 → ₹1,261 Resistance: ₹1,421 → ₹1,450 → ₹1,496 Interpretation If price breaks ₹1450, strong momentum toward ₹1500+ possible. If price falls below ₹1330, next support zone ₹1260–₹1280. Currently in consolidation range ₹1350–₹1450.